Essential Utilities, Inc. (NYSE:WTRG) Shares Sold by Ascent Group LLC

Ascent Group LLC trimmed its holdings in shares of Essential Utilities, Inc. (NYSE:WTRG) by 13.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,658 shares of the company’s stock after selling 1,003 shares during the period. Ascent Group LLC’s holdings in Essential Utilities were worth $249,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Tradewinds Capital Management LLC lifted its stake in shares of Essential Utilities by 857.5% in the 1st quarter. Tradewinds Capital Management LLC now owns 699 shares of the company’s stock valued at $26,000 after purchasing an additional 626 shares during the period. Voisard Asset Management Group Inc. acquired a new position in shares of Essential Utilities in the 2nd quarter valued at $37,000. Webster Bank N. A. acquired a new position in shares of Essential Utilities in the 1st quarter valued at $41,000. Riverview Trust Co acquired a new position in shares of Essential Utilities in the 1st quarter valued at $43,000. Finally, Massmutual Trust Co. FSB ADV lifted its stake in shares of Essential Utilities by 112.8% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,513 shares of the company’s stock valued at $56,000 after purchasing an additional 802 shares during the period. 74.78% of the stock is currently owned by institutional investors and hedge funds.

Essential Utilities Price Performance

Essential Utilities stock opened at $38.31 on Wednesday. Essential Utilities, Inc. has a 52-week low of $32.07 and a 52-week high of $41.78. The firm has a market capitalization of $10.48 billion, a price-to-earnings ratio of 18.16, a PEG ratio of 3.37 and a beta of 0.85. The company has a fifty day simple moving average of $39.35 and a 200-day simple moving average of $38.06. The company has a quick ratio of 0.44, a current ratio of 0.58 and a debt-to-equity ratio of 1.14.

Essential Utilities (NYSE:WTRG) last released its earnings results on Monday, August 5th. The company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.02). Essential Utilities had a return on equity of 8.16% and a net margin of 28.74%. The business had revenue of $434.40 million for the quarter, compared to analysts’ expectations of $442.76 million. During the same period in the previous year, the company earned $0.34 EPS. Essential Utilities’s quarterly revenue was down .5% compared to the same quarter last year. On average, equities analysts anticipate that Essential Utilities, Inc. will post 1.95 EPS for the current fiscal year.

Essential Utilities Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were issued a $0.3255 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 3.40%. This is a positive change from Essential Utilities’s previous quarterly dividend of $0.31. Essential Utilities’s dividend payout ratio is currently 61.61%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Evercore ISI boosted their target price on shares of Essential Utilities from $42.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Robert W. Baird upped their price objective on shares of Essential Utilities from $43.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Bank of America restated a “buy” rating and set a $45.00 price objective on shares of Essential Utilities in a research report on Friday, September 20th. Finally, Wells Fargo & Company upped their price objective on shares of Essential Utilities from $42.00 to $45.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.00.

Essential Utilities Company Profile

Essential Utilities, Inc, through its subsidiaries, operates regulated utilities that provide water, wastewater, or natural gas services in the United States. The company operates through Regulated Water and Regulated Natural Gas segments. It offers water services through operating and maintenance contract with municipal authorities and other parties.